CoinShares-owned company Komainu secures crypto custodian registration in the UK Cryptocurrency scrgruppen

Komainu, a cryptocurrency custodian created by cryptocurrency investment firm CoinShares, hardware wallet provider Ledger and Japanese investment bank Nomura, has received major regulatory approval in the UK.

The company announced on October 6 that it has received approval from the UK Financial Conduct Authority (FCA) to register as a custodial wallet provider under the Money Laundering, Terrorist Financing and Money Transfer Regulations 2017.

Cryptoasset custody registration with the Financial Conduct Authority (FCA) allows Komainu to offer crypto custody services in the UK, including collateral management services through its Komainu Connect platform.

“The UK remains one of the most important fintech and innovation hubs that will stimulate the convergence of traditional and decentralized finance,” said Nicolas Bertrand, CEO of Komainu.

Related: CoinShares says the United States is not lagging behind in cryptocurrency adoption and regulation

Komainu’s latest regulatory approval comes shortly after the company received a full operating license from Dubai’s Virtual Assets Regulatory Authority in August 2023. The cryptocurrency custody platform is also regulated by the Jersey Financial Services Commission, where it remains headquartered.

As previously reported, Comino has worked closely with UK authorities in recent years. In early 2021, Comino claimed to have entered into an agreement with local authorities to securely store digital assets seized during the investigation process.

magazine: Big Questions: Did the NSA Create Bitcoin?